Retail Sales Post Weakest Reading in 7 Months

By IBT Staff Reporter On 01/12/12 AT 8:42 AM

A woman walks through a shopping mall in San Francisco, California January 5, 2012. Photo: REUTERS

(REUTERS) -- Retail sales rose at the weakest pace in seven months in December as consumers pulled back late in the holiday shopping season, cutting purchases at department stores and spending less on electronic gadgets.

Total retail sales increased 0.1 percent after rising by an upwardly revised 0.4 percent in November, the Commerce Department said on Thursday.

Excluding autos, retail sales fell 0.2 percent, the first decline since May 2010.

Sales at food and beverage stores fell 0.2 percent in December. Also holding back the overall gain in sales, receipts at gasoline stations dropped 1.6 percent last month after rising 0.9 percent in November.

Core retail sales, which exclude autos, gasoline and building materials, dropped 0.1 percent in December after advancing 0.3 percent the prior month.